Navigating the MonetiSation Journey: Somethings to consider…
Monetising an organisation’s owned and operated assets can be an exhilarating journey filled with challenges and rewards. Let’s explore some of the stages of this journey and highlight key strategies and considerations along the way.
Start with a Clear Holistic View
To embark on the monetization journey, it's crucial to gain a clear and comprehensive understanding of your current state. This encompasses various elements such as your go-to-market strategy, brand and audience narrative, assets, structural capabilities, customer and client value proposition, user experience, legal framework, commercial yield and technologies. These are some of the components which plays a vital role in shaping your monetization strategy.
Expect Trade-Offs and the Unknown
It's crucial to understand that trade-offs and uncertainties are inherent in the process.
You may need to make choices that impact other aspects of your business. Additionally, there will always be pockets of unknowns - unexpected challenges and opportunities that can shape the course of your journey. Embracing this uncertainty with the right mindset will be important.
Prioritisation and Change Management
While prioritisation is an obvious aspect of these programs, what often goes hand-in-hand is the need for change management. Some initiatives may require significant shifts in your business operations, structure, staffing, products or culture. Being prepared and accepting of these changes will be essential to ensure a smooth transition into rapidly realising the monetization potential of your owned and operated assets.
Don't Forget to Have Fun
Amidst the challenges and changes, it's important not to lose sight of the excitement and rewards that come with monetizing your assets. The journey can be incredibly fulfilling as you see your efforts translate into revenue – especially with your C-suite and Board! Remember to celebrate your achievements, both big and small, and enjoy the process.
In conclusion, monetizing your owned and operated assets is indeed a journey, and having a clear, holistic view of your current state is the critical starting point. Expect trade-offs and embrace the unknowns with the right mindset. Prioritize and be prepared for change, and most importantly, enjoy the process.
At Reserata, we understand the complexities of this journey, and we can help you navigate every step of the way and empower you to unlock the full potential of your assets.
